Operating within California means you’ll need to register any LLC conducting business in the state, regardless of where it’s formed.

Quote from @La Toya Flowers Butler: I'm a newbie to real estate investing, looking to learn, cultivate business relationships, and invest!  

I've never seen such a mismanaged business.

You’re running a business not a charity after all. 

They make their money off of real estate agents, but real estate agents are the worst people to make money off because they are highly unreliable and in and out of the business when the market changes.Their target should be the consumer with higher levels that they can subscribe too for data, since Zillow is linked to the MLS now which makes their data somewhere more reliable.

The IRS doesn't trust you to report accurate information, so the 1099 from the property manager is checked against your filing.Any company that does more than $600 in business with you should issue a 1099.

We're also seeking to buy a local (Raleigh / Durham) property management company to expand that business more rapidly.

I am no way affiliated or benefit from these referrals, just like to pass along good business!    

Working in a busy property management company, I'm often asked for advice on camera and alarm systems, and in rougher neighborhoods sometimes it can be a toss-up on whether to keep a property boarded-up between showings. 

She also mentioned that they’ve been in real estate since 2006 and have managed over 30 properties (though this is more of a side business for them), which suggests a mom-and-pop operation.